July 16, 2012 / 10:49 AM / 5 years ago

UPDATE 1-Leap COO to leave company

* Says Raymond Roman will leave, effective July 31

* Roman to continue in a consulting role

July 16 (Reuters) - Leap Wireless International’s Chief Operating Officer Raymond Roman will be leaving the company, effective July 31, the low-cost mobile operator disclosed in a regulatory filing.

The regional operator, which caters to cost-conscious customers who pay phone bills in advance, said Raymond Roman, its COO of almost one and a half years, will get $495,000 for the termination of his employment.

Roman, who joined Leap in February 2011, had earlier worked with Dell Inc and Motorola.

In a filing with the U.S. Securities and Exchange Commission, Leap said Roman would continue in a consulting role with the company, but did not name an immediate successor.

Leap shares closed at $6.50 on Friday. They have lost over 56 percent of their market value in the last one year.

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